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A group of men set off on an expedition for pearls near Manila. Kathy, a local archaeologist, accompanies them and together they discover an island where the inhabitants have pearlized eyes and these half-humans, half-fish creatures can stay underwater for great lengths of time. By all indications, they are descendants of Atlantis. While observing their ancient rituals, which include love-making on the sea bed, Kathy finds out the leaders of the island must mate with outsiders to ensure their future generation. This, along with a chest full of pearls, leads to an explosive climax.